Verizon to redeem debt securities on April 23, 2025

Rhea-AI Summary

Verizon (VZ) has announced plans to redeem specific debt securities on April 23, 2025. The redemption price will be calculated based on the greater of two options: either 100% of the principal amount or the sum of the present values of remaining scheduled payments, discounted at the Treasury Rate plus 20 basis points. The final calculation will be made three business days before the redemption date.

The redemption price will include accrued and unpaid interest up to, but not including, the redemption date. U.S. Bank Trust Company will serve as the paying agent for this debt redemption process.

Positive

• Debt management initiative shows proactive financial management

Negative

• None.

News Market Reaction

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On the day this news was published, VZ declined 0.98%, reflecting a mild negative market reaction.

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NEW YORK, March 24, 2025 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on April 23, 2025 (the “Redemption Date”):

I.D. Number	Title of Security	Principal Amount Outstanding
CUSIP: 92343V DD3 ISIN: US92343VDD38 Common Code: 146607594	2.625% Notes due 2026 (the “Notes”)	$984,778,000

The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Notes) plus 20 basis points (the “Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The Redemption Price will be calculated in accordance with the terms of the Notes on the third Business Day (as defined in the Notes) preceding the Redemption Date.

Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank Trust Company, Trust Company, National Association, Attn: Corporate Trust Services, 111 Fillmore Ave E, St. Paul, MN 55107, or via telephone at 1-800-934-6802.

Media contact:
Katie Magnotta
katie.magnotta@verizon.com
201-602-9235

FAQ

When will Verizon (VZ) redeem its debt securities in 2025?

Verizon will redeem the specified debt securities on April 23, 2025.

How will the redemption price be calculated for Verizon's (VZ) debt securities?

The redemption price will be the greater of 100% principal amount or the present value of remaining payments discounted at Treasury Rate plus 20 basis points, plus accrued interest.

When will Verizon (VZ) calculate the final redemption price for the debt securities?

The redemption price will be calculated three business days before the April 23, 2025 redemption date.

Who is the paying agent for Verizon's (VZ) debt securities redemption?

U.S. Bank Trust Company, National Association is serving as the paying agent for the debt redemption.